1/1

 
 
Auto Sales Climb In May, GM Gains Despite Recalls - Auto Balla
 

Auto Sales Climb In May, GM Gains Despite Recalls

Jun 3 2014, 9:48am CDT | by

May was a winner for U.S. automakers as Chrysler, Ford Motor and General Motors each reported upbeat monthly sales figures Tuesday.

“[O]ur dealers reported brisk May sales over five weekends and the Memorial Day holiday,” said Chrysler’s U.S. sales chief Reid Bigland, after the Fiat-controlled automaker sold 194,421 vehicles in the month, a 17% increase from a year earlier. Chrysler projects industry-wide U.S. sales for May at a seasonally adjusted annual rate of 16.9 million, That would be the best year since 2006.

Trucks were the driving force for Chrysler, up 38% versus a 27% year-over-year decline for the company’s car brands. Year-to-date, Chrysler sales are up 13% from the comparable period in 2013.

Ford said its sales rose 3% in May to 254,084, more than expected for the company’s best May in a decade. The company sold more than 20,000 Ford Explorers for the first time since 2005, with the brand’s sales up 21% from a year ago. Sales of F-series trucks, which include the F-150, were down 4.3% in May. Overall, Ford’s vehicle sales are down slightly in 2014, running at a pace 0.9% below that of a year ago.

GM, meanwhile, recorded a 12.6% sales increase in May, well above expectations, even as it deals with the fallout from a slew of safety-related recalls in recent months. Chevy sales rose 14% and overall the company said May was its best sales month since August 2008, when the company was spiraling toward bankruptcy.

“The momentum we generated in April carried into May, with all four brands performing well in a growing economy,” said GM’s VP of U.S. sales Kurt McNeil. The company estimated the industry’s annual sales pace at 16.5 million in May and also noted that its incentive spending was down from a year ago.

Read Joann Muller’s feature on Mary Barra and the mission to fix GM’s latest flaws from the latest issue of Forbes.
/>

Shares of Ford opened higher Tuesday morning, up 1.3%, while GM gained 1.6%. The stock market has clearly preferred Ford to its bigger Detroit rival this year, with shares of the former up 8% as GM has fallen 13% amid its recall woes. Meanwhile, U.S.-listed shares of Chrysler parent Fiat are up 26% in 2014.

GM data by YCharts

Follow @SchaeferStreet

 
 
 

<a href="/latest_stories/all/all/30" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.

 

blog comments powered by Disqus

Latest stories

IPad Air Giveaway 2014 is Online
IPad Air Giveaway 2014 is Online
Our sister site I4U News is giving away a brand new iPad Air or if you can wait an iPad Air 2. This is an $499 value.
 
 
Your Parent Or Kid Moved In: Are You Covered?
A record 57 million Americans now live in multigenerational family households — double the number in 1980, according to a new Pew Research Center study. And I bet many of them have the wrong homeowner’s or renters...
 
 
Pandora Looks to Challenge Terrestrial Radio's Dominance in Cars
Pandora Media is one of the largest Internet radio providers in the U.S. with more than 75 million active users. While the company’s active user count has increased at a robust pace historically, it is likely to slow...
 
 
Are General Manager Salaries About To Skyrocket? Will There Be A Front Office Salary Cap?
Are General Manager Salaries About To Skyrocket? Will There Be A Front Office Salary Cap?
It’s January 2026. New York Yankees owner Hal Steinbrenner gets out of his driverless car and triumphantly marches before the gathered press to introduce his prized new free agent. It’s a record-breaking contract—over...
 
 
 

Latest from the Network

Karl Lagerfeld: Young designers have ego problem
London, Sep 30 (IANS) Fashion designer Karl Lagerfeld says that young designers have ego problems. "Most of the designers, especially the young ones, have ego problems. I couldn't care less. The label is the label and...
Read more on Celebrity Balla
 
Amanda Bynes arrested for drink-driving
Amanda Bynes was arrested for driving under the influence (DUI) yesterday morning (09.28.14). The 28-year-old actress, who sought treatment in rehab last year, was detained at 3am in San Fernando Valley after police...
Read more on Celebrity Balla
 
India, US need not be comfortable on all aspects of partnership: Modi
Washington, Sep 30 (IANS) Prime Minister Narendra Modi set the tone for his summit with US President Barack Obama Monday saying India and US should think of what they can do together for the whole world even as they...
Read more on Politics Balla
 
Hundreds of bodies found in Ukraine mass graves: Rebels
Moscow, Sep 30 (IANS/EFE) Some 400 bodies, mostly of civilians, were taken to the morgues of Donetsk and other cities in eastern Ukraine now controlled by pro-Russian rebel militias after they were retrieved from mass...
Read more on Politics Balla
 
UN chief wants earliest formation of new Afghan government
United Nations, Sep 30 (IANS) UN Secretary-General Ban Ki-moon Monday congratulated Ashraf Ghani Ahmadzai on his inauguration as the new Afghan president and called for a new Afghanistan government's formation at the...
Read more on Politics Balla
 
Hostages in Philippines plead for their lives
Manila, Sep 30 (IANS/EFE) Two German hostages held by the Philippine Islamic group Abu Sayyaf appealed for their lives Monday, urging authorities in Berlin to pay a ransom and withdraw support from the international...
Read more on Politics Balla
 
Man dies two years after being struck by stray bullet
Santiago, Sep 30 (IANS/EFE) A 23-year-old Chilean man died after two years in a persistent vegetative state as a result of being shot in the head unintentionally by a law enforcement officer during a student protest in...
Read more on Politics Balla
 
Terrorism exported to India, Indian Muslims will fail Al Qaeda: Modi
New York, Sep 30 (IANS) Terrorism has been exported to India and it is not home-grown, Prime Minister Narendra Modi said here Monday, adding that the Indian Muslims will fail the Al Qaeda. Answering a query at the...
Read more on Politics Balla
 
Avril Lavigne celebrates birthday without Chad Kroeger
Avril Lavigne celebrated her 30th birthday without her husband Chad Kroeger on Saturday (09.27.14). The 'Girlfriend' hitmaker and the Nickelback rocker, who got married 14 months ago, have fuelled more rumors their...
Read more on Celebrity Balla
 
Kim Kardashian West almost attacked again?
Kim Kardashian West was allegedly almost attacked for a second time at the weekend. The 33-year-old star's security team blocked Vitalii Sediuk, who tackled her at Paris Fashion Week last Thursday, from striking her...
Read more on Celebrity Balla
 
 
Auto Sales Climb In May, GM Gains Despite Recalls - Auto Balla
 

Auto Sales Climb In May, GM Gains Despite Recalls

Jun 3 2014, 9:48am CDT | by

May was a winner for U.S. automakers as Chrysler, Ford Motor and General Motors each reported upbeat monthly sales figures Tuesday.

“[O]ur dealers reported brisk May sales over five weekends and the Memorial Day holiday,” said Chrysler’s U.S. sales chief Reid Bigland, after the Fiat-controlled automaker sold 194,421 vehicles in the month, a 17% increase from a year earlier. Chrysler projects industry-wide U.S. sales for May at a seasonally adjusted annual rate of 16.9 million, That would be the best year since 2006.

Trucks were the driving force for Chrysler, up 38% versus a 27% year-over-year decline for the company’s car brands. Year-to-date, Chrysler sales are up 13% from the comparable period in 2013.

Ford said its sales rose 3% in May to 254,084, more than expected for the company’s best May in a decade. The company sold more than 20,000 Ford Explorers for the first time since 2005, with the brand’s sales up 21% from a year ago. Sales of F-series trucks, which include the F-150, were down 4.3% in May. Overall, Ford’s vehicle sales are down slightly in 2014, running at a pace 0.9% below that of a year ago.

GM, meanwhile, recorded a 12.6% sales increase in May, well above expectations, even as it deals with the fallout from a slew of safety-related recalls in recent months. Chevy sales rose 14% and overall the company said May was its best sales month since August 2008, when the company was spiraling toward bankruptcy.

“The momentum we generated in April carried into May, with all four brands performing well in a growing economy,” said GM’s VP of U.S. sales Kurt McNeil. The company estimated the industry’s annual sales pace at 16.5 million in May and also noted that its incentive spending was down from a year ago.

Read Joann Muller’s feature on Mary Barra and the mission to fix GM’s latest flaws from the latest issue of Forbes.
/>

Shares of Ford opened higher Tuesday morning, up 1.3%, while GM gained 1.6%. The stock market has clearly preferred Ford to its bigger Detroit rival this year, with shares of the former up 8% as GM has fallen 13% amid its recall woes. Meanwhile, U.S.-listed shares of Chrysler parent Fiat are up 26% in 2014.

GM data by YCharts

Follow @SchaeferStreet

 
 
 

<a href="/latest_stories/all/all/30" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.

 

blog comments powered by Disqus

Latest stories

IPad Air Giveaway 2014 is Online
IPad Air Giveaway 2014 is Online
Our sister site I4U News is giving away a brand new iPad Air or if you can wait an iPad Air 2. This is an $499 value.
 
 
Your Parent Or Kid Moved In: Are You Covered?
A record 57 million Americans now live in multigenerational family households — double the number in 1980, according to a new Pew Research Center study. And I bet many of them have the wrong homeowner’s or renters...
 
 
Pandora Looks to Challenge Terrestrial Radio's Dominance in Cars
Pandora Media is one of the largest Internet radio providers in the U.S. with more than 75 million active users. While the company’s active user count has increased at a robust pace historically, it is likely to slow...
 
 
Are General Manager Salaries About To Skyrocket? Will There Be A Front Office Salary Cap?
Are General Manager Salaries About To Skyrocket? Will There Be A Front Office Salary Cap?
It’s January 2026. New York Yankees owner Hal Steinbrenner gets out of his driverless car and triumphantly marches before the gathered press to introduce his prized new free agent. It’s a record-breaking contract—over...
 
 
 

Latest from the Network

Karl Lagerfeld: Young designers have ego problem
London, Sep 30 (IANS) Fashion designer Karl Lagerfeld says that young designers have ego problems. "Most of the designers, especially the young ones, have ego problems. I couldn't care less. The label is the label and...
Read more on Celebrity Balla
 
Amanda Bynes arrested for drink-driving
Amanda Bynes was arrested for driving under the influence (DUI) yesterday morning (09.28.14). The 28-year-old actress, who sought treatment in rehab last year, was detained at 3am in San Fernando Valley after police...
Read more on Celebrity Balla
 
India, US need not be comfortable on all aspects of partnership: Modi
Washington, Sep 30 (IANS) Prime Minister Narendra Modi set the tone for his summit with US President Barack Obama Monday saying India and US should think of what they can do together for the whole world even as they...
Read more on Politics Balla
 
Hundreds of bodies found in Ukraine mass graves: Rebels
Moscow, Sep 30 (IANS/EFE) Some 400 bodies, mostly of civilians, were taken to the morgues of Donetsk and other cities in eastern Ukraine now controlled by pro-Russian rebel militias after they were retrieved from mass...
Read more on Politics Balla
 
UN chief wants earliest formation of new Afghan government
United Nations, Sep 30 (IANS) UN Secretary-General Ban Ki-moon Monday congratulated Ashraf Ghani Ahmadzai on his inauguration as the new Afghan president and called for a new Afghanistan government's formation at the...
Read more on Politics Balla
 
Hostages in Philippines plead for their lives
Manila, Sep 30 (IANS/EFE) Two German hostages held by the Philippine Islamic group Abu Sayyaf appealed for their lives Monday, urging authorities in Berlin to pay a ransom and withdraw support from the international...
Read more on Politics Balla
 
Man dies two years after being struck by stray bullet
Santiago, Sep 30 (IANS/EFE) A 23-year-old Chilean man died after two years in a persistent vegetative state as a result of being shot in the head unintentionally by a law enforcement officer during a student protest in...
Read more on Politics Balla
 
Terrorism exported to India, Indian Muslims will fail Al Qaeda: Modi
New York, Sep 30 (IANS) Terrorism has been exported to India and it is not home-grown, Prime Minister Narendra Modi said here Monday, adding that the Indian Muslims will fail the Al Qaeda. Answering a query at the...
Read more on Politics Balla
 
Avril Lavigne celebrates birthday without Chad Kroeger
Avril Lavigne celebrated her 30th birthday without her husband Chad Kroeger on Saturday (09.27.14). The 'Girlfriend' hitmaker and the Nickelback rocker, who got married 14 months ago, have fuelled more rumors their...
Read more on Celebrity Balla
 
Kim Kardashian West almost attacked again?
Kim Kardashian West was allegedly almost attacked for a second time at the weekend. The 33-year-old star's security team blocked Vitalii Sediuk, who tackled her at Paris Fashion Week last Thursday, from striking her...
Read more on Celebrity Balla